at 8:55 am ET, Gold finally broke 890. should bring it down to retest 850 very soon.
let say a 50 USD drop within a day or two.
WTI crude still holding at 129. Would crude takes the hint ?
Soon EURUSD may be breaking down again towards 1.5400.
US Treasury has finally shown its hands............
Now US has lost its authority to accuse China of manipulating currencies.
Hence we may see CNY weakening going forth. The reverse of the ever rising RMB has finally begun.
Today 29 May marks a turning point in USD history. It has lost its legitmacy as a World Reserve Currency, as it is no longer a stable FREE FLOATING currency.
About Me
- DollarProAragon
- Well, I am just an ordinary guy who happen to read tomorrow newspaper today. I used to be a forex trader with a major bank, managing the international forex desk. I have a MBA in Banking and Finance, and currently pursuing a PHD with a Ivy League on international capital flows. I provide consulting assignment to financial institutions and run my consultancies to private clients with focus on forex, commodities (Gold, Silver, Platinum, Palladium, Copper). Since 2007, I have been consulted various corporation on their money market operations in China.
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